Fresh Fund founder Zaki Djemal dies suddenly
Venture capitalist built one of Israel’s most active pre-Seed investment firms.
Zaki Djemal, the founder and managing partner of Israeli venture capital firm Fresh Fund, has died suddenly, the firm announced.
In a message sent to investors, founders and partners, the firm said it was “with profound sorrow and grief” that it shared the news of Djemal’s passing. The fund sent condolences to his family and said colleagues were “devastated” by the loss.
Djemal founded Fresh Fund in 2016 and built it into one of Israel’s largest and most active venture capital firms focused on pre-Seed investments. The firm specializes in writing the first checks to Israeli startups and partnering with founders from the earliest stages of company formation.
According to the fund, Djemal played a central role in shaping its culture and approach to investing. “The culture was set by him - be kind, do the right thing, be good partners to everyone, celebrate everyone’s success and work together to fix problems,” the firm wrote.
Fresh Fund said Djemal remained deeply engaged in the firm’s work until his final day. Just a day before his death, he met with one of the fund’s investors in New York.
During that meeting, the investor remarked that Djemal appeared to genuinely enjoy his work. According to the firm, he responded: “I love what I do. I’m always working with people so much smarter than me - our mission-driven founders solving big problems. I’m mission-driven too - to help our amazing founders and their companies. What this all means for Israel. I love what I get to do. I am the luckiest person in the world.”
Fresh Fund said it intends to continue building on the firm’s performance and legacy.
“We are committed to ensuring that the outstanding performance of Fresh Fund remains part of Zaki’s legacy,” the message said.
Beyond his work in venture capital, Djemal was also involved in several social initiatives in Israel and abroad. He led North American operations for IsraAID, an Israeli humanitarian aid organization, and launched initiatives in his hometown of Jerusalem aimed at connecting Arab and Israeli youth.
In recent years he also supported IGY (Israeli Gay Youth), where he helped lead fundraising efforts and supported programs that provide shelters and safe spaces for LGBTQ+ youth.
